Amid a growing corruption scandal, New York's comptroller on Wednesday barred investment firms soliciting business from the state pension fund from employing lobbyists known as placement agents.
Treasury Secretary Timothy Geithner said Wednesday the United States bears a substantial share of responsibility for a global economic crisis that could cost the world up to $4 trillion in lost output this year alone.
Coca-Cola Co. sees a chance to increase its market share during the economic slowdown and doesn't plan to waste the opportunity, the chief executive of the world's largest beverage maker told shareholders Wednesday.
Caterpillar Inc., the world's largest maker of construction and mining equipment, on Tuesday reported a first-quarter loss of $112 million, hurt by sharp sales declines across the globe and a big charge for recent layoffs.
General Motors Corp. could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday.
Bank of New York Mellon Corp. said Tuesday that its first-quarter profit dropped an unexpectedly steep 57 percent and that it was slashing its dividend in hopes of repaying a government investment.
Investors traded stocks cautiously Tuesday as lackluster corporate results renewed questions about how quickly the economy can recover from the recession.
Executives of the nation's largest credit-card companies will meet with President Barack Obama at the White House on Thursday to discuss growing concerns about questionable practices in the industry.
